Chinese Banks Halt Experimental Yuan-Remittance Program

Yuan-Remittance Program Halted Following Criticism in State Media

BEIJING—China's major banks have halted an experimental program, sanctioned by the country's central bank, that helped citizens transfer large sums overseas despite government capital controls, according to people with knowledge of the matter.

The halt, which the people said was likely to be temporary, comes after the program was criticized by China's powerful state television broadcaster, underscoring the political sensitivity of...